Leveraging unstructured data with information management systems
By Josh Oates, author, 4C Group
Enterprises are gathering more and more data from a variety of sources. Termed ‘big data’, a large portion of this data is unstructured, so processing, analysing and interpreting it can be challenging. However, companies can use information management systems to transform unstructured data into insightful knowledge that can support strategic decision-making.
4C Group can help customers leverage their data and turn it into a valuable asset. We achieve this by reducing their time-to-insight (TTI) so they can make data-driven decisions that positively impact the future of their business. Effective information management systems are an essential requirement for businesses to operate at maximum efficiency.
The value of information assets is wholly dependent on the quality of the underlying data, which is determined by its accuracy, completeness, accessibility and relevance. Information management concerns the collection of data from any number of sources (both unstructured and structured), the responsible use thereof and the distribution of insights to decision-makers.
Unstructured vs structured data
Unstructured data is not organised in a predetermined way and may be challenging to process. E-mails, posts on social media, pictures and videos are all examples of this type of data.
On the other hand, structured data is organised and simple to analyse. Usually, it can be found in databases, spreadsheets and tables. Examples include financial information, customer details and employee records.
By analysing and interpreting unstructured data using machine learning algorithms, information management systems can extract insights from it. Natural language processing (NLP) algorithms, for instance, can recognise sentiment in written text-based data, extract keywords from it and comprehend its context.
Alternatively, computer vision algorithms can categorise photos and videos, allowing businesses to spot patterns and trends that the human eye might miss. Unlocking insights from unstructured data has many advantages; businesses can use it to spot new trends, streamline processes and improve customer satisfaction with individualised care.
The end goal is to turn unstructured data into a structured format in order to leverage the information for the good of the business. This is where intelligent software plays a crucial role in collecting, processing, analysing and reporting on unstructured data for enterprises.
How 4C Group can help
4C Group offers information management solutions that make use of machine learning methods to extract knowledge from unstructured data. In essence, the process involves raw data collection, transformation and enrichment, storage, processing, analysis, distribution, presentation and decision support.
Other considerations include data modelling, retention, archiving, retrieval and accessibility. In short, businesses must ensure they collect quality data so that the right information can be presented to the right person at the right time, whether from unstructured or structured sources.
These solutions guarantee that companies maximise the value of their data and utilise it so they can remain competitive. Information management systems are essential in leveraging unstructured data to gain insights and empower business growth. At 4C Group, we help our clients to make sense of their data using smart software and machine learning algorithms. If you’d like to find out more about these offerings, please contact us today.
At 4C Group of Companies, we strive to effect operational changes and cost savings for customers through our iNSight product and associated services. This product’s main function is to re-purpose and deliver business-critical information to a variety of systems and stakeholders.
We specialise in information management, business assurance, fintech solutions and a variety of cyber security services. For more insights into our products and services, check out our blog page or follow us on Facebook, LinkedIn and Twitter.